people who invested in GPU mining rigs for BTC found them un-profitable with the move to ASICs. However, when LTC was born, they had a new chance for profitability.<p>So I'm asking you: isn't LTC created just as a consolation coin for people who bought GPU mining rigs for BTC?
I'd say no. The fact that it is GPU, not asic results in a more distributed, decentralized coin. It is probably more difficult to build a custom chip and do majority mining within one company/agency.
Also the distribution of wealth is probably better in litecoin. This makes the coin more stable.